Question 903095: A jazz group on tour has been drawing average crowds of 600 people. It is projected that for every $1 increase in the $11 ticket price, the average attendance will decrease by 60. At what ticket price will nightly receipts be $4,800?
Answer by AlgebraLady88(44)   (Show Source):
You can put this solution on YOUR website! Ok, we are working with 600 people here. Wow, only 600 ?
Just kidding!
As we read further, we see that the ticket price is $11. Not bad for a ticket price. Then , we are told that for every $1 increase in the ticket price, the average attendance will decrease by 60. Ok, these customers really mean business!
We are asked what the ticket price would be for the nightly profit to be $4800.
Just for our own information, at $11 a ticket with 600 attendees, the profit would be $ 6600= 11*600
So, if the ticket price went up $1 to $12, the nightly haul would be
$12 * 540 = $6480 (we now have 540 customers as 60 of the original 600 have decided to boycott the event)
At $13 a ticket, we now have 480 customers; the haul would be 13* 480 = $ 6240
At $14 a ticket, we now have 420 customers; the haul would be 14* 420 = $ 5880
At $15 a ticket, we now have 360 customers; the haul would be 15* 360 = $ 5400
At $16 a ticket, we now have 300 customers; the haul would be 16* 300 = $ 4800 Voila!
So, at $16 , the ticket sales would total $ 4800
|
|
|
